More than 785,000 Americans learned that they may have been the subject of identity theft in the last three months. HSBC, a U.K. bank, recently informed 180,000 of its customers that information the company kept on them had been exposed to potential criminals. Consumer advocacy organization Household - HSBC Watch said recent complaints on their website include HSBC NV, the Nevada location of HSBC (household International) credit card issuing facility. Here is a sample consumer report to Household - HSBC Watch: “We are refinancing and 3 months ago this was not on our credit report and now it is for $1423.00 at $42.00 a month and we never signed up for anything in this past year. How do we get this off our credit report?”
Archive for » April, 2005 «
New York Attorney General Eliot Spitzer has requested information from HSBC’s American arm, Household International, as part of a wider probe into mortgage lending. It is Spitzer’s first foray into retail lending practices and comes after a string of successful investigations by his office into the mutual fund industry, insurance and investment banking. Consumer advocacy organization Household - HSBC Watch sent information to Spitzer to assist in this investigation.
Category: 05 All Articles, 05 HSBC - U.S.
Leave a Comment
Computer retailer CompUSA also finances with former disgraced predatory lender Household International, now called HSBC Finance Corporation. Also, because competitor Best Buy also uses this demonic source of financing for private label credit cards. Complaints about both credit cards are received daily at Household - HSBC Watch, but CompUSA complaints have increased as of late. The CompUSA forum is here. The Best Buy forum is here.
Category: 05 All Articles, 05 Private Label
Leave a Comment
Since its release in mid-January 2005, Household- HSBC Watch download “The History of Predatory Lending” has been downloaded 365 times. An average of 35 people per day see the actual effect Household International and HSBC had on unsuspecting Americans. You can get your copy here.
Finance companies buy loans from car dealers just after the sale is made. They typically buy loans at a discount of 1% to 15% of the loan’s principal amount. It then collects on the loan or, if things go bad, calls the repo man to take the car back. “You can read more about what goes on behind the scenes in auto financing in our blog” said consumer watchdog organization Household - HSBC Watch.
Category: 05 All Articles, 05 AutoFinance
Leave a Comment
